Mortgage Rates Drift Slightly Downward to 3.75%

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ZillowThe weekly mortgage rate chart illustrates the average 30-year fixed interest rate in six-hour intervals.

By Lauren Braun

Mortgage rates for 30-year fixed home loans fell this week, with the rate borrowers were quoted on Zillow at 3.75 percent Tuesday, down four basis points from last week.

The 30-year fixed mortgage rate fell throughout the week before settling at 3.75.

"Mortgage rates remained fairly flat last week," said Erin Lantz, vice president of mortgages at Zillow. "There is a risk of short-term volatility this holiday-shortened week due to lower than normal market participation and several important data releases."

Additionally, the 15-year fixed mortgage rate was 2.93 percent. For 5/1 ARMs, or adjustable-rate mortgages, the rate was 2.92 percent.

Check Zillow for mortgage rate trends and up-to-the-minute rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates.

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